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How To Get A Buy To Let Mortgage

UK buy to let mortgage rates are at all time lows!

See below for latest market leading buy to let deals or use our independent buy to let mortgage advice service to compare the market.

 

Details sort by initial rateLenderInitial rate Rate type Overall cost for comparisonMax LTVProduct feeMonthly cost Enquire
Initial rate: 0.99%
Rate type: Fixed 25 months
Monthly cost: £677.56 per month
Max LTV: 65%
Product fee: £3,600
Overall cost for comparison: 4.3% APRC
The Mortgage Works logo 0.99% Fixed 25 months 4.3% APRC 65% £3,600 £677.56 per month get quotes Call us0117 403 4474 More details Broker Only Deal
Initial rate: 0.99%
Rate type: Fixed 25 months
Monthly cost: £677.56 per month
Max LTV: 65%
Product fee: £3,600
Overall cost for comparison: 4.3% APRC
The Mortgage Works logo 0.99% Fixed 25 months 4.3% APRC 65% £3,600 £677.56 per month get quotes Call us0117 403 4474 More details Broker Only Deal
Initial rate: 1.05%
Rate type: Fixed 26 months
Monthly cost: £682.45 per month
Max LTV: 60%
Product fee: £1,995
Overall cost for comparison: 4.0% APRC
Birmingham Midshires Solutions logo 1.05% Fixed 26 months 4.0% APRC 60% £1,995 £300 cashback £682.45 per month get quotes Call us0117 403 4474 Broker Only Deal
Initial rate: 1.05%
Rate type: Fixed 26 months
Monthly cost: £682.45 per month
Max LTV: 60%
Product fee: £1,995
Overall cost for comparison: 4.0% APRC
Birmingham Midshires Solutions logo 1.05% Fixed 26 months 4.0% APRC 60% £1,995 £682.45 per month get quotes Call us0117 403 4474 Broker Only Deal
Initial rate: 1.05%
Rate type: Fixed 26 months
Monthly cost: £682.45 per month
Max LTV: 60%
Product fee: £1,995
Overall cost for comparison: 4.0% APRC
Birmingham Midshires Solutions logo 1.05% Fixed 26 months 4.0% APRC 60% £1,995 £300 cashback £682.45 per month get quotes Call us0117 403 4474 Broker Only Deal
Initial rate: 1.14%
Rate type: Fixed 27 months
Monthly cost: £689.84 per month
Max LTV: 65%
Product fee: £1,999
Overall cost for comparison: 4.1% APRC
HSBC logo 1.14% Fixed 27 months 4.1% APRC 65% £1,999 £689.84 per month get quotes Call us0117 403 4474 More details
Initial rate: 1.14%
Rate type: Fixed 27 months
Monthly cost: £689.84 per month
Max LTV: 60%
Product fee: £1,999
Overall cost for comparison: 4.1% APRC
HSBC logo 1.14% Fixed 27 months 4.1% APRC 60% £1,999 £689.84 per month get quotes Call us0117 403 4474 More details
Initial rate: 1.14%
Rate type: Fixed 26 months
Monthly cost: £689.84 per month
Max LTV: 60%
Product fee: £1,999
Overall cost for comparison: 4.4% APRC
Platform logo 1.14% Fixed 26 months 4.4% APRC 60% £1,999 £500 cashback £689.84 per month get quotes Call us0117 403 4474 More details
Initial rate: 1.14%
Rate type: Fixed 25 months
Monthly cost: £689.84 per month
Max LTV: 75%
Product fee: £3,600
Overall cost for comparison: 4.8% APRC
The Mortgage Works logo 1.14% Fixed 25 months 4.8% APRC 75% £3,600 £689.84 per month get quotes Call us0117 403 4474 More details Broker Only Deal
Initial rate: 1.14%
Rate type: Fixed 25 months
Monthly cost: £689.84 per month
Max LTV: 70%
Product fee: £3,600
Overall cost for comparison: 4.8% APRC
The Mortgage Works logo 1.14% Fixed 25 months 4.8% APRC 70% £3,600 £689.84 per month get quotes Call us0117 403 4474 More details Broker Only Deal
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Representative Example:

A repayment mortgage of £120,000 payable over 28 years and 1 month initially on a fixed rate for 2 years at 1.99% and then on the lender current variable rate of 3.69% (variable) for the remaining 26 years and 1 month would require 24 monthly payments of £465.20 and 312 monthly payments of £565.39 and one final payment of £565.19.

 

The total amount payable would be £189,357.67 made up of the loan amount plus interest (£68,161.67), booking fee (£999), completion fee (£30) and valuation fee (£197).

 

In this example the overall cost for comparison is 3.7% APRC representative.

 

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT

How To Get A Buy To Let Mortgage

Our Buy to Let Mortgage Service

Why choose us?

Fair Mortgages can provide you with a first class service if you are looking for buy to let mortgage advice. 

Special features of what we offer include:

  • Whole of market broker - we deal with most UK buy to let lenders
  • Rates - Access to leading buy to let market rates
  • Exclusives - Access to exclusive buy to let mortgage deals not available on high street
  • Our BTL Experise - Expert help whether you are a first time investor or full time landlord
  • Experienced BTL Investor? - Have a complex buy to let or have a portfolio of 5+ properties? - speak to us

To investigate your buy to let mortgage options call our specialist team on 0117  403 4474 or fill in our call back form. 

"The essence of the Fair Mortgages buy to let service is professional independent mortgage and protection advice brought to you by a team of specialist advisers and experienced administration support."

As your buy to let mortgage is such an important transaction, good advice is imperative.

How To Get A Buy To Let Mortgage

How to get a buy to let mortgage

Whether you already own investment property or you are thinking of becoming a landlord for the first time, how to get a buy to let mortgage is largely the same although there may be more products available to more experienced landlords.

If you have knowledge of residential mortgages then you will find that there are certain distinct differences with buy to let mortgages compared to residential options.

Mortgage Loan to Value

While it may be possible to obtain a residential mortgage with a deposit of about 5% of the total property value, buy to let mortgages tend to be offered with a Loan to Value (LTV) that requires applicants to have a deposit of at least 20%-25%of the property value, however certain lenders may be willing to loan to borrowers with a smaller deposit than this

Affordability

While the affordability of a residential mortgage is usually calculated on a multiple of the income of the applicants, the affordability of buy to let mortgages is usually assessed upon the potential rental income of the property. Many lenders therefore require that that the estimated monthly rental-yield of the property is at least 125% of what the monthly mortgage payment would be.

Interest Rates

Interest rates for buy to let mortgages tend to be higher than regular mortgages, this is because buy to lets are perceived to be of higher risk by lenders.

Other requirements of buy to let mortgages

While the affordability of buy-to-lets is normally calculated upon the rental value of the property many lenders still require their applicants to be able to prove a minimum annual income, the amount required varies by provider.

Lenders also tend to require their buy to let applicants to already own their own home, this can be either outright or with a mortgage.

Using a mortgage adviser

There are a wide range of buy to let products available on the market, from both high street providers and other specialist lenders.

You may therefore find it useful to use the services of an independent mortgage adviser, in addition to be being able to give you impartial advice about obtaining a buy to let mortgage, an adviser that offers a whole-of-market service can use their expertise to search products across different providers on the behalf of their clients to try and find the best product for their needs.

To find out if Fair Mortgages could help you fill in our online contact form to request a call back from a mortgage adviser at a time that suits you. Alternatively you can call directly on: 0117 403 4474.  

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